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US govt's CHIPS Act gives Intel $8.5 billion in funding and a 25% tax credit on $100 billion in investments | The largest CHIPS Act agreement yet, by far.
The largest CHIPS Act agreement yet, by far.
Beyond the direct funding and loans, Intel can also claim an Investment Tax Credit from the Department of the Treasury of up to 25 percent of $100 billion in capital expenditures that it makes over the next five years. Ahead of the announcement, Secretary of Commerce Gina Raimondo said that funding with Intel will put the government on track to meet ambitious goals under the Biden administration to produce chips in America. Gelsinger also confirmed that Intel’s Ohio fabs will open in 2027 or 2028, a delay from the original plan of 2025 due to start-up challenges and market conditions.
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